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BOJ, RBA sign bilateral local currency swap agreement

The Bank of Japan said on Friday it had signed a bilateral local currency swap agreement with the Reserve Bank of Australia, aimed at enhancing the financial stability of the two nations.

PHOTO: BLOOMBERG

[TOKYO] The Bank of Japan said on Friday it had signed a bilateral local currency swap agreement with the Reserve Bank of Australia, aimed at enhancing the financial stability of the two nations.

The agreement, effective for three years beginning Friday, allows for the exchange of local currencies between the two central banks of up to A$20 billion (S$20.72 billion) , or 1.6 trillion yen, the Japanese central bank said in a statement on its website.